The National Securities Commission (CNV) announced changes in the operation of Argentine Depositary Certificates (CEDEARs) and Securities Certificates (CEVAs), a measure that points to the arrival of new foreign shares to the Buenos Aires Stock Exchange.
The National Securities Commission (CNV) announced changes in the operation of Argentine Deposit Certificates (CEDEARs) and Securities Certificates (CEVAs)a measure that points to the arrival of new foreign shares to the Buenos Aires Stock Exchange.
In a communication, the CNV reported that it is giving greater administrative speed to the processing of, among others, the increases in the Argentine Certificates of Deposit (CEDEARs) and Securities Certificates (CEVAs) programs, after the approval of RG No. 1001, given the growing increase in requests for authorization of the aforementioned investment instruments.
“Also in response to operational questions, The regulations regulate the delegation of powers of the Issuer Management regarding various aspects. They are: the modification of the terms and conditions of the CEDEARs and CEVAs Programs; the modification of ratios; increases or partial cancellations of their amounts; transfer of Public Offer; reorganizations“, reported the CNV.
Likewise, it includes all other procedures related to the CEDEARs and CEVAs Programs that occur by decision of the issuer or as a consequence of corporate events that occur in relation to the underlying, with the exception of the initial authorization for the creation of programs or their definitive cancellation.
The possibility of delegating powers by the management bodies of decentralized entities to lower hierarchical entities is authorized in articles 3 of the Administrative Procedure Law No. 19,549 (BO 27-4-72).
Source: Ambito
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